Calculate the total duties and taxes payable for each item

Reference no: EM133610999

Case: You are required to assess the total duties payable for your client on the following shipments: Twenty four (24), 50'TV valued at US1200.00 each, 18 cases of Bombay Sapphires, each case containing 12 bottles, each bottle has a volume of 750ml and alcoholic strength of 15%. The value declared for the liquor is US7000.00. These items were packed on five (5) pallets and shipped via sea, from New York to Miami and then to Jamaica. The waybill reflected a total freight charge of US800.00.

Calculate the total duties and taxes payable for each item and the total sum payable to customs for this shipment. Given that

• Rate of exchange 150JMD=1 USD

• General Consumption Tax (GCT) rate is 20%

• Standard Compliance Fee (SCF)is 0.3%

• Environmental Levy (ENVL) is 0.5%

• Additional Stamp Duty (ASD )rate is 30% for the liquor

• Special Consumption Tax Specific (SCTS) rate is $1230 JMD per LPA

• Total CAF for the shipment is $22, 500JMD

• Stamp Duty is $100 JMD

Reference no: EM133610999

Questions Cloud

What cycles of oppression have you witnessed in your life : What cycles of oppression have you witnessed in your life or that you know about from history? How do you feel about these?

Make recommendation on some new behaviors : If you were acting as the assistant and Dr Gottman asked you to make a recommendation on some new behaviors

Define the issues that might emerge at forefront : Choose one of the common change initiatives, and define the issues that might emerge at forefront or those responsible for implementing or facilitating change.

Discuss the origin of theory or model used as your framework : Discuss the origin of the theory or model used as your framework. How was the framework used originally? How is the framework applied in current studies.

Calculate the total duties and taxes payable for each item : Calculate the total duties and taxes payable for each item and the total sum payable to customs for this shipment

What are the side effects of the action : All this data is public record information already, but still quite inconvenient to access. What are the side effects of this action?

Why vigenere is not acceptable as an algorithm : Post your answers and explain your experience and why Vigenere is not acceptable as an algorithm in today's computing environment.

Explain how signal detection theory : Explain how signal detection theory might lead you to make a mistake in perception if you are at home alone at night and are scared.

Calculate the amount of class 4 national insurance : Calculate the amount of class 4 national insurance contributions (NIC) will Sean pay for the tax year 2021-22. Clearly state your workings

User Account

All Pages